Toronto: To address severe labor shortages, Canada plans to welcome a record 500,000 new permanent residents in 2025, the government said when announcing the Immigration Levels Plan for Toronto. 2023-2025.
The North American nation raised its 2023 immigration target to 465,000 and its 2024 target to 485,000, up 4% and 7.5%, respectively.
Canada’s immigration goals include growing the economy, reuniting families and providing asylum to refugees fleeing hardship overseas, CIC News reported.
In 2021, Canada broke its historic immigration record by welcoming more than 405,000 immigrants.
The majority of new permanent residents immigrate through economic class programs such as those in the Express Entry system or through Provincial Nomination Programs (PNPs).
Under the new plan, there will be 82,880 Express Entry landings in 2023, 109,020 in 2024 and 114,000 in 2025.
The PNP will remain the main admission program to Canada for Economic Class immigrants with 105,500 PNP arrivals in 2023, 110,000 in 2024 and 117,500 in 2025.
According to CIC News, Canada will continue to seek to welcome some 80,000 new immigrants a year under the Spouses, Partners and Children program.
The Parents and Grandparents Program targets will increase to 28,500 in 2023, followed by 34,000 in 2024 and 36,000 in 2025.
The most recent vacancies data showed there were 958,500 job vacancies in Canada in August and 1 million unemployed.
The economy has lost nearly $13 billion over the past year due to a nationwide shortage of labor and skills in manufacturing, the labor force survey found. of Canadian Manufacturers & Exporters from 563 manufacturers in 17 industries across the country.
Labor shortages are further affected by Canada’s low birth rate of 1.4 children per woman, one of the lowest in the world, according to media reports.
According to a CIC News report, nine million people, or almost a quarter of Canada’s population, will reach retirement age by 2030, creating an urgent shortage of workers in all sectors of the economy.